ISLAMABAD
\nCPEC continues to play a transformative role in regional connectivity and economic development, said Finance Minister Muhammad Aurangzeb. Various development activities are in progress under the CPEC. In the transport infrastructure sector, \u201ceight projects totaling US$ 6.7 billion have been completed, while several others are underway\u201d.
\nThe other projects included the construction of 888 kilometers of motorways and highways, while another 853 kilometers are under development with local funding, Gwadar Pro reported on Tuesday. Finance Minister unveiled the Pakistan Economic Survey 2024\u201325, projecting a 2.7 percent GDP growth for the outgoing fiscal year.
\nThey survey also highlighted key achievements under the China-Pakistan Economic Corridor (CPEC), particularly in transport infrastructure and strategic development at Gwadar Port. Inflation for the year was recorded at 4.6 percent, as the country seeks to stabilize its economy while accelerating progress on major connectivity and trade-related projects.
\n\u201cWe now have to move towards GDP stabilization. We are currently moving in a better direction,\u201d Aurangzeb said during the survey launch in Islamabad. Citing CPEC\u2019s achievement, the Minister said, among the completed initiatives is the 120-km Havelian-Thakot section of the Karakoram Highway, a flagship project recognized with international awards.
\nOther key operational projects include the 392-km Multan-Sukkur Motorway, the 297-km Hakla-D.I. Khan Motorway, and the 110-km Khuzdar-Basima Highway. \u201cIt (CPEC) strengthens Pakistan\u2019s integration into regional and global supply chains, fostering trade, investment, and inclusive development.\u201d
\nThe survey report also highlights progress in digital and urban connectivity, including the completion of a cross-border optical fiber cable and the Orange Line Metro Train in Lahore. The New Gwadar International Airport is now operational, enhancing air connectivity.
\nOngoing projects such as the Zhob-Kuchlak, Nokundi-Mashkhel, and Awaran-Khuzdar sections, as well as feasibility studies for the Babusar Tunnel and the Mirpur-Muzaffarabad-Mansehra corridor, signal continued momentum in infrastructure development under CPEC. he Main Line-1 (ML-1) railway project remains under technical and financial consultation, while the framework agreement for the Karachi Circular Railway has been shared with the Chinese side.
\nThe survey highlighted significant progress in the development of Gwadar Port and its Free Zone. Since 2013, the China Overseas Ports Holding Company Limited (COPHCL) has invested over US$ 50 million dollars to upgrade port infrastructure. The port is fully operational and regularly handling commercial traffic.
\nA 60-acre pilot zone of the Gwadar Free Zone has been developed, with enterprises operating in sectors including finance, manufacturing, logistics, and fisheries. \u201cThe total investment of the company is US$ 250 million for the Gwadar Port Free Zone,\u201d reads the survey documents.To facilitate investment, Pakistan has offered a 23-year tax holiday, full foreign ownership, and one-window operations for investors.
\nCOPHCL has also completed the master plan and feasibility work for the main Free Zone, covering 2,281 acres. To address water scarcity in the region, a 1.2 million-gallon-per-day reverse osmosis desalination plant, funded by China under its socioeconomic assistance program, was completed in June 2023.
\n\u201cIt will fulfill the water requirements of the surrounding population of Gwadar Port as well as the needs of Gwadar Port Free Zone Part-I.\u201d The federal government has also allocated funding for additional projects in Gwadar under the Public Sector Development Programme (PSDP) for 2024\u201325, including land acquisition, housing infrastructure, and the East Bay Expressway Phase-II.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD CPEC continues to play a transformative role in regional connectivity and economic development, said Finance Minister Muhammad Aurangzeb. Various development activities are in progress under the CPEC. In the transport infrastructure sector, \u201ceight projects totaling US$ 6.7 billion have been completed, while several others are underway\u201d. The other projects included the construction of 888 […]<\/p>\n","protected":false},"author":2,"featured_media":412753,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-483421","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national"},"yoast_head":"\n